LETTER - SMSFs not the be-all and end-all
Perhaps one of the main reasons for the growth in self managed super is that promoters such as Grant Abbott imply that many of the benefits of superannuation generally (creditor protection, low taxes, tax effective estate planning) are specific to self managed super (Money Management, April 27).
Perhaps one of the main reasons for the growth in self managed super is that promoters such as Grant Abbott imply that many of the benefits of superannuation generally (creditor protection, low taxes, tax effective estate planning) are specific to self managed super (Money Management, April 27).
While the use of complying pensions in a self managed super fund (SMSF) for people with benefits in excess of the lump sum RBL is attractive, their use to obtain DSS bene-fits are not specific to SMSFs.
Rather than six primary reasons for the rapid growth in SMSFs, I believe it can be nar-rowed down to two: investment choice and promoters who present the benefits of super-annuation in general as reasons for having a SMSF.
On the subject of investment choice it is not essential to have a SMSF to invest your su-per in direct shares or managed funds, wrap accounts facilitate these investments.
Tim Overington
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